This line is from the song 'Rang Aur Noor Ki' from the 1973 film 'Aa Gale Lag Jaa'. The line 'Rang aur noor ki...baarat kise pesh karun' means 'O procession of color and light, whom should I present you to?' The word 'baarat' here means a wedding procession or celebratory parade, not 'tohfa' (gift), 'dastaan' (story), or 'pelhi' (which appears to be a typo). The singer is asking whom to present this beautiful procession of color and light to.